The state of Florida created the Office of Medical Marijuana Use to create a registry of patients and dispensaries. The OMMU is responsible for issuing dispensary and cultivator licenses to authorized parties. The OMMU is extremely strict with licensure requirements for dispensaries and cultivators.
If you want to be eligible to apply, you have to be registered to do business in Florida for at least five consecutive years. You also have to demonstrate that you can securely store and distribute medical cannabis to authorized clients. You are required to present financial statements showing that you can maintain the dispensary for at least 2 years.
Dispensaries are required to obtain a $5 million performance bond from an insurance company. Florida dispensaries must also pay an application/licensing fee of roughly $60,000.
If you need additional details on how payment processing laws in Florida may affect your cannabusiness, contact a Paybotic representative today for assistance.
Paybotic’s expert finance team has the skills and experience necessary to navigate Florida’s complex cannabis merchant regulations. We can help you avoid the limitations of partnering with a traditional financial institution and grant you access to safe and secure payment processing capabilities.
Our solutions include:
Paybotic does not rely on a one-size-fits-all business model. We will assess the unique demands of your business and develop a customized solution. This will allow you to improve revenue streams, more securely track transactions, and maintain compliance with state regulators.
Paybotic is known for our prompt response times and first-class customer service. As soon as you complete your application, we will get to work assessing the needs of your business. We have a 99.9% approval rate for high-risk vendors and process most applications within 48 hours.
When you partner with us, you will receive:
If you want to accelerate the growth of your business, then you need a proven Florida ISO partner like Paybotic. Contact us at the link below and start your journey today!